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Fund Financial Statements <br />Governmental Fund financial statements are prepared on the modified accrual basis, which <br />means they measure only current financial resources and uses. Capital assets and other long- <br />lived assets, along with long-term liabilities, are presented only in the Agency-wide financial <br />statements. <br />The Agency has six funds all of which are presented as Major Funds. <br />SUMMARIZED FINANCIAL INFORMATION <br />TABLE 1 <br />Net Assets <br />Current and other assets <br />Capital assets <br />Total assets <br />Current liabilities <br />Long- term liabilities <br />Total liabilities <br />Governmental Activities . <br />2007 2006 <br />$ 31,072,812 $ 27,979,268 <br />7,292,082 7,369,962 <br />38,364,894 35,349,230 <br />5,930,317 <br />35,377,000 <br />41,307,317 <br />5,474,025 <br />37,610,910 <br />43,084,935 <br />Net assets: <br />Invested in capital assets, net of related debt <br />Restricted <br />Unrestricted <br />Total net assets (deficit) <br />7,292,082 7,369,962 <br />14, 863,208 11,683,944 <br />(25,097,714) (26,789,611) <br />$ (2,942,423) $ (7,735,705) <br />4 <br />